PORTLAND, Ore. – Credit unions are getting into the nascent field of non-fungible tokens (NFTs).
First Tech FCU is underwriting a project that involves the creation and hosting a non-fungible token (NFT)-powered mural and fundraiser event in Portland on Sept. 25, 2021.
NFTs are defined as a unit of data stored on the blockchain that certifies a digital asset is unique and therefore not interchangeable. To date, NFTs can be used to represent items such as photos, videos, audio, and other types of digital files, and in some cases have been sold for tens of millions of dollars.
The project in Portland is being led by Anvil Media, a digital marketing agency, and Hovers Over Water, a brand design and graphic studio, which said they have “decided the timing was right to collaborate on a charitable event and NFT-powered mural to give back to the Portland community.”
The initial concept developed by Hovers Over Water evolved into a large mural that will be painted on the back of Anvil's headquarters.
‘Call to Action’
“The mural and supporting digital assets will acknowledge Oregon's racist roots and the history of discrimination prevalent in Portland, yet aims to focus on a call-to-action for a brighter, more diverse and unified future,” the organizations said. “The ‘19/19’ mural is an acknowledgment of Portland's history of segregation and displacement of indigenous peoples and more recently, black residents, who were barred from buying real estate in white neighborhoods in 1919. A once vibrant neighborhood in Portland, The Albina District, was gentrified starting in the 1950s, fragmenting community.”
Grid Format
According to organizers, conceptually the mural will represent a progression rising from a forlorn past toward a vibrant future. Consisting of 38 colored squares in a grid format, will be painted by the local community over a daylong event featuring local artists, music, food and celebration. The mural will be captured by photographs and video, which will then be integrated into an NFT and put up for auction. The highest bidders will own the rights to the mural and other related assets, while raising funds for local charity, Friends of the Children-Portland.